During the session on Wednesday, we get several announcements, not the least of which will be the ADP Nonfarm Employment Change numbers, but we also get the Crude Oil Inventories announcement. Because of this, it could be a rather interesting trading session.
Gold
Gold markets fell again on Tuesday, testing the 50-day exponential moving average. The $1220 level is sitting just below, and should offer a bit of support. If we can bounce from here, call buyers should be encouraged. Otherwise, the market could find itself drifting down to the $1200 level.
CAC
The Parisian index pulled back a bit during the day on Tuesday, as we are reaching towards the €4950 level. There should be support just below, so sooner rather than later the call buyers will be attracted to this market, and make another attempt to break above the €5000 handle.
EBay
EBay fell initially during the day on Monday, but found enough support at the 20-day exponential moving average to turn around and form a hammer. This is a bullish sign and a break above the top of the range should be a call buying opportunity and send this market looking for the $34.50 level. A breakdown below the bottom of the range could send the put buyers into action, driving the market towards the $32.50 level.
